Re:Joint Statement by the Department of the Treasury, Federa...
by yunwal on Monday March 13, 2023 @04:09PM
(#35141765)
> But then the PPP and pandemic payments were bailouts, too
Yes, PPP loans were 100% bailouts. I do think, however, that there’s a significant difference, which is that we didn’t have widely available insurance for pandemics. Even if businesses wanted to protect themselves against the risk of pandemic, they probably could not have done so before COVID.
Businesses that fail to hedge risks when the option is readily available to them should fail.
Yes, PPP loans were 100% bailouts. I do think, however, that there’s a significant difference, which is that we didn’t have widely available insurance for pandemics. Even if businesses wanted to protect themselves against the risk of pandemic, they probably could not have done so before COVID.
Businesses that fail to hedge risks when the option is readily available to them should fail.